Friday 29 Mar 2024
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KUALA LUMPUR (November 17): Outsourcing service provider Scicom (MSC) Bhd posted net profit of RM7.25 million for its first quarter ended Sept 30, jumping 39% year-on-year (y-o-y) from RM5.23 million.

Quarterly revenue rose 17% to RM43.48 million, from RM37.03 million a year earlier.

The increase in profit translated to higher earnings per share of 2.45 sen, compared with 1.76 sen in the preceding year’s corresponding quarter.

In its announcement to Bursa Malaysia, Scicom attributed the improvement in profit to an increase in its revenue, as billable headcounts and "transactional" volume for existing projects rose.

Scicom declared an interim dividend of 1.5 sen per share, with its ex-date on Nov 27, 2014.

The company will also issue up to 59.24 million bonus shares to its shareholders, on the basis of one bonus share for every five shares held. The ex-date for the bonus issue is on Nov 27, 2014.

Looking ahead, Scicom expects to grow its revenue and profits for its current financial year, as its outsourcing business continues to grow.

Meanwhile, its education division is currently tendering for a few projects, with contribution expected in the second half of current financial year ending June 30.

Scicom share price closed at RM2, up four sen, bringing its market capitalisation to RM592.42 million.

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